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H.J.Res. 25119th CongressTaxation
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
Sponsored by Rep. Mike Carey (R-OH) · 9 active : 8 Republicans, 1 Democrat
Latest action: Became Public Law No: 119-5.
Where it standsBecame law66 representatives score as swing votes
Became law
- House: passedMar 11, 2025
- Senate: passedMar 26, 2025
- President: Signed into lawApr 10, 2025
Summary
, via Congress.govThis joint resolution nullifies requirements for persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the Internal Revenue Service (IRS). Specifically, the joint resolution nullifies the requirements included in the rule titled
Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales
and issued by the IRS on December 30, 2024.
Read full summaryHide full summary
Decentralized finance refers to the suite of financial activities and services that are facilitated by cryptocurrency and intended to be conducted without any sort of reliance on traditional financial tools or intermediaries.
How the projections held up
Each member’s recorded vote compared with their swing projection from before the vote. A member by voting against most of their own party.
House
On PassagePassed292 yea, 132 nayMarch 11, 2025 · Roll call 71
| BandBand before the vote | VotedVoted yea or nay | BrokeBroke with party | Share |
|---|---|---|---|
| Swing | 56 | 19 | 34% |
| Middle | 153 | 22 | 14% |
| Entrenched | 145 | 9 | 6% |
| Insufficient data |
Committees and subjects
Committees
- House Committee on Ways and Means · HouseReported by · Markup by · Referred to
Subjects
- Administrative law and regulatory procedures
- Congressional oversight
- Currency
- Digital media
- Financial services and investments
- Internal Revenue Service (IRS)
- Tax administration and collection, taxpayers
Model
Directional: count only breaks toward the other partyWhy do scores change?v3default (selected)v2 model swing-v2
How the Senate breaks down
- 9Swing 70–100
- 67Middle 30–70
- 24Entrenched 0–30
Members fall into . All 100 senators have enough data to score. The bill is not before the Senate right now; these scores show where members would stand.
Key players in the Senate
Ranked by swing score, 0–100 · swing-v3, directional: only movement toward the other party counts, so members who sit further from the center than their party no longer score as swing votes.
Bars show each input from 0 to 100: ideology gap, scorecard gap, , and the . is the seat’s partisan lean, and shows how much of the input data a score has. Where the Senate has voted, each member’s appears with the projection made before it.
- 1
Similar past votes, Senate
Earlier behind swing-v3’s inputLoading similar votes
Cosponsors
9 activeShow all 9 cosponsors
- Tom Emmer (R-MN-6)
- Warren Davidson (R-OH-8)
- Jeff Crank (R-CO-5)
- Claudia Tenney (R-NY-24)
- David Kustoff (R-TN-8)
- Shri Thanedar (D-MI-13)
- Zachary Nunn (R-IA-3)
- William R. Timmons (R-SC-4)
- Troy Downing (R-MT-2)
How the swing score works
Ideology gapHow far a member’s DW-NOMINATE voting score sits from their party’s median in the same chamber.
Scorecard gapHow far their Heritage Action and LCV ratings stray from their party’s average, using the groups’ votes on similar bills where available.
Cross-pressureHow strongly their district or state leans toward the other party, from our own computed partisan lean.
Similar votesHow often they voted against their own party on earlier roll calls about this bill or similar ones.
Committee bonusMembers of the committees handling the bill decide whether it moves, so they get a boost.
Cosponsor checkThe sponsor and active cosponsors have already committed, so they drop toward entrenched.
